Company registration number:		03759351
BRIGHT NAILS LIMITED
REPORT OF THE DIRECTOR'S AND
FINANCIAL STATEMENTS
FOR THE YEAR ENDED 30 April 2023

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BRIGHT NAILS LIMITED
BALANCE SHEET
AS AT 30 April 2023
					2023				2022
				Notes	£		£		£		£
FIXED ASSETS
Intangible assets				3			201,100				100,000
Tangible assets				4			93,293				81,280
							294,393				181,280
CURRENT ASSETS
Stocks					453,611				392,370
Debtors					297,914				326,712
Cash at bank and in hand					34,647				96,635
					786,172				815,717
CREDITORS
Amounts falling due within one year					(33,678)				(33,036)
NET CURRENT ASSETS							752,494				782,681
TOTAL ASSETS LESS
CURRENT LIABILITIES							1,046,887				963,961
NET ASSETS							1,046,887				963,961
CAPITAL AND RESERVES
Called-up equity share capital							100				100
Profit and loss account							1,046,787				963,861
SHAREHOLDERS FUNDS							1,046,887				963,961
For the year ending 30 April 2023 the company was entitled to exemption under section 477 of the Companies Act 2006 relating to small companies.
The members have not required the company to obtain an audit in accordance with section 476 of the Companies Act 2006.
The director acknowledges his responsibilities for complying with the requirements of the Act with respect to accounting records and the preparation of the accounts.
All the members have consented to the preparation of abridged financial statements for the year ended 30 April 2023 in accordance with Section 444(2A) of the Companies Act 2006.
The profit and loss account has not been delivered to the Registrar of Companies in accordance with the special provisions applicable to companies subject to the small companies' regime.
These financial statements have been prepared in accordance with the special provisions relating to companies subject to the small companies regime within Part 15 of the Companies Act 2006. Approved by the board of directors on 1 June 2023 and signed on its behalf.
..........................................................................
K Willis
1 June 2023
The annexed notes form part of these financial statements.

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BRIGHT NAILS LIMITED

NOTES TO THE FINANCIAL STATEMENTS

FOR THE YEAR ENDED 30 APRIL 2023

1.

Accounting policies

Statutory information

Bright Nails Limited is a private company, limited by shares, registered in England and Wales. The company's registered number and registered office address can be found on the Company Information page. The presentation currency of the financial statements is the £ sterling.

Statement of compliance

These financial statements have been prepared in accordance with the provisions of Section 1A 'Small entities' of Financial Reporting Standard 102 'The Financial Reporting Standard applicable in the UK and Republic of Ireland' and the Companies Act 2006. There were no material departures from the standard.

Basis of preparing the financial statements

The accounts have been prepared under the historical cost convention and in accordance with the Financial Reporting Standard for Smaller Entities (Effective April 2015).

Turnover

Turnover comprises the invoiced value of goods and services supplied by the company, net of Value Added Tax and trade discounts.

Fixed Assets

Tangible fixed assets are stated at cost less depreciation Depreciation is provided at rates calculated to write off the cost or valuation of fixed assets, less their estimated residual value, over their expected useful lives on the following bases:

Plant and Machinery - 20% per annum of cost

Motor Vehicles - 25% per annum of cost

Stocks and Work In Progress

Stocks and work in progress are valued at the lower of cost and net realisable value after making due allowance for obsolete and slow moving stocks. Cost includes all direct costs and an appropriate proportion of fixed and variable overheads.

2.

Employees

The average number of persons employed by the company (including directors) during the year was 8.

3.	Intangible fixed assets
				Total
	Cost
	At start of period			100,000
	Additions			101,100
	At end of period			201,100
	Net Book Values
	At start of period			100,000
	At end of period			201,100

4.	Tangible fixed assets
				Total
	Cost
	At start of period			164,072
	Additions			36,830
	At end of period			200,902
	Depreciation
	At start of period			82,792
	Provided during the period			24,817
	At end of period			107,609
	Net Book Value
	At start of period			81,280
	At end of period			93,293

5.

Related Party Transactions

Ordinary dividends paid to directors in their capacity as shareholders during the year included £51,000 to K W Willis (2022- £51,000).